Winning at sports betting could be one of the most challenging things that any person would encounter. While there are times people bet and predict the outcome correctly, there is also a half probability that the outcome may be different. People end up losing money over time as betting could be risky.
We know how challenging it is to win constantly during betting. But to have the same luck as bettors who share their success stories on YouTube, you need to be able to create a great mix of expected value hunting and strategy formulating.
The Concept of Expected Value
You have to understand the concept of expected value when placing your bets. Each wager may either have a positive expected value (+EV), a negative expected value (-EV) or rarely a neutral expected value.
The formula for expected value is as follows:
(Amount won per bet * probability of winning) – (Amount lost per bet*probability of winning).
The best example to illustrate this is a coin toss. You can only get two outcomes in a coin toss: heads or tails. Each outcome has an equal probability of 50%. Thus, the equivalent value of either a head or tail appearing is 0, which indicates that tossing a coin infinitely ends up the same. So, let’s place the odds of either head or tail appearing as 1.0 apiece.
But then, we mix it up and you are given odds of 1.20 for the coin to land on tails. This means that you can earn more if the coin lands on tails, as compared to heads, which only give you a 1.0 value.
If you bet $10 on tails, the equivalent value (EV) calculated becomes the following:
(11.20*0.5) – (10*0.5) = 0.60
Thus, you could make an average profit of $0.60 for each $10 bet, because the odds received are better than the coin toss’ implied odds.
Tips for Winning at Sports Betting
Now, if you want to win at sports betting, you have to avoid negative EVs and look for more positive EVs. Below are just some of the tops you could use to know how to win at sports betting.
Always do your research
Most bettors always try to rely on their hunch before making a big bet. In the long run, however, this will cause you to lose money. To prevent this from happening, you need to have comprehensive knowledge of the sides you wish to bet on. View the stats of the teams you bet on, check videos of old games if you can, check the injuries and suspensions that could affect the outcome of a game, and use all that to formulate betting systems that ensure you have value in your pick before wagering.
Pick a proper sports betting site
First of all, you have to single out a proper betting site. Choose one that displays its figures properly so that you wouldn’t worry about anomalous bidding. Also, choose one that has proper channels of deposit, money transfer and withdrawal. Check also for seals and licences, as these lend credibility to the site you are betting on. Also, make a comparison of odds and see which provides the best value for the outcome you have predicted. BetVision has sports betting providers that give you the best odds for betting, plus secure transaction and livestreaming of the games so that you have the experience when wagering on your teams and outcomes of choice!
Take well-calculated risks
Remember that the favourite doesn’t always win. Betting using handicaps and American odds usually show that there is always a team tipped to win. But there is always a chance that the underdog would score an upset. In some sports like football, there is a likelihood that the team with less possession could end up scoring in a close game.
If you feel that you have the data supporting that the opposite thing happening in a sports event can take place, you could wager on that. Try not to go overboard, so you don’t lose a significant amount of money.
Practise Until You Develop a System for Sports Betting
Winning won’t happen overnight for any budding bettor. You have to combine strategies that will provide the best winnings for you. Start with small amounts so you could get your touch, then gradually increase it when you are winning more often. Also, add more sports events to your bettings so that you have a steady stream of income from sports betting alone. With these tips, we hope you do well, and good luck betting!